INDONESIA/JAPAN: Asahi details Indofood CBP tie-up
Asahi Group has confirmed that it has signed two joint ventures with an Indonesian company to market and distribute non-alcoholic drinks in the country.
Asahi subsidiary Asahi Group Holdings Southeast Asia, which is based in Singapore, signed the deal with PT Indofood CBP Sukses Makmur on Monday (9 July), the Japanese brewer said in a statement. Previous local reports said the deal was worth US$213m.
“Asahi has been looking to expand the beverage business in South-East Asia, while Indofood CBP has been working on expanding its business to capture the demand of consumers, particularly the middle-income segment,” the statement said.
“Asahi will grow its non-alcoholic beverage business across Asia/Oceania by establishing a platform and achieving competitive operation in the Indonesian non-alcoholic beverage market, which is expected to grow even further.”
The Indonesian beverage market was worth about JPY400bn (US$5bn) last year and has been growing at 15% over the past five years, Asahi said, citing EuroMonitor figures. The company said population and economic growth is expected to continue.
Indofood CBP's portfolio includes noodles, dairy, food seasonings and snack foods.
An analyst earlier this week said Asahi may be heating up its overseas investment.
Last year, just-drinks travelled to the US to report on Diageo's investor conference. The subject of the presentations was the company's hopes and plans for the Latin America & Caribbean region. While...
- AB InBev, SABMiller - Here's what'll happen next
- Is time right for TWE to move for Diageo's wines?
- Will a sexed-up SABMiller tempt AB InBev?
- Is Brown-Forman at the end of the SoCo road?
- Making consumers the centre of your business
- AB InBev makes formal offer for SABMiller
- Diageo makes US$780.5m beer deal with Heineken
- SABMiller formally rejects AB InBev's offer
- Brito gives call to arms to SABMiller shareholders
- Carlsberg UK chief James Lousada quits
- The IWSR Duty Free/Travel Retail Summary Report 2015
- Future growth opportunities for global spirits
- Global gin insights - market data, product innovation and consumer trends research
- Global non-Scotch whiskies insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research